4,237 Shares in Diamondback Energy, Inc. (NASDAQ:FANG) Bought by RIA Advisory Group LLC

RIA Advisory Group LLC bought a new stake in Diamondback Energy, Inc. (NASDAQ:FANG) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,237 shares of the oil and natural gas company’s stock, valued at approximately $657,000.

Several other large investors have also recently bought and sold shares of FANG. BKM Wealth Management LLC bought a new position in Diamondback Energy in the fourth quarter valued at about $27,000. BluePath Capital Management LLC bought a new position in Diamondback Energy in the third quarter valued at about $28,000. FinTrust Capital Advisors LLC raised its position in Diamondback Energy by 232.8% in the fourth quarter. FinTrust Capital Advisors LLC now owns 213 shares of the oil and natural gas company’s stock valued at $29,000 after purchasing an additional 149 shares during the last quarter. Carolinas Wealth Consulting LLC raised its position in Diamondback Energy by 366.7% in the first quarter. Carolinas Wealth Consulting LLC now owns 224 shares of the oil and natural gas company’s stock valued at $31,000 after purchasing an additional 176 shares during the last quarter. Finally, Householder Group Estate & Retirement Specialist LLC bought a new position in Diamondback Energy in the third quarter valued at about $32,000. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Stock Performance

Shares of FANG stock traded up $1.14 during trading hours on Friday, hitting $200.74. 1,800,730 shares of the company were exchanged, compared to its average volume of 1,760,358. The firm has a fifty day simple moving average of $188.92 and a 200 day simple moving average of $167.21. The company has a current ratio of 0.77, a quick ratio of 0.74 and a debt-to-equity ratio of 0.38. Diamondback Energy, Inc. has a 52-week low of $123.41 and a 52-week high of $211.96. The stock has a market capitalization of $35.80 billion, a price-to-earnings ratio of 11.65 and a beta of 1.93.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share for the quarter, beating analysts’ consensus estimates of $4.61 by $0.13. Diamondback Energy had a net margin of 37.36% and a return on equity of 19.56%. The business had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same period in the previous year, the business earned $5.29 EPS. Diamondback Energy’s revenue was up 9.8% compared to the same quarter last year. Research analysts predict that Diamondback Energy, Inc. will post 18.53 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, March 5th were paid a $3.08 dividend. This represents a $12.32 dividend on an annualized basis and a yield of 6.14%. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend was Monday, March 4th. Diamondback Energy’s payout ratio is currently 20.76%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on FANG. UBS Group raised their price target on shares of Diamondback Energy from $183.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Bank of America raised shares of Diamondback Energy from an “underperform” rating to a “neutral” rating and upped their price target for the company from $129.00 to $170.00 in a research report on Monday, February 12th. Piper Sandler upped their price target on shares of Diamondback Energy from $227.00 to $247.00 and gave the company an “overweight” rating in a research report on Friday. Barclays initiated coverage on shares of Diamondback Energy in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $214.00 price target on the stock. Finally, KeyCorp upped their price target on shares of Diamondback Energy from $186.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $196.95.

Insider Buying and Selling at Diamondback Energy

In other news, COO Daniel N. Wesson sold 6,000 shares of Diamondback Energy stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $192.17, for a total value of $1,153,020.00. Following the sale, the chief operating officer now directly owns 78,218 shares in the company, valued at approximately $15,031,153.06. The sale was disclosed in a filing with the SEC, which is available through this link. In other Diamondback Energy news, CFO Hof Matthew Kaes Van’t sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $190.82, for a total value of $2,289,840.00. Following the completion of the sale, the chief financial officer now directly owns 185,882 shares in the company, valued at $35,470,003.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Daniel N. Wesson sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $192.17, for a total value of $1,153,020.00. Following the completion of the sale, the chief operating officer now owns 78,218 shares in the company, valued at approximately $15,031,153.06. The disclosure for this sale can be found here. Insiders sold a total of 57,675 shares of company stock valued at $11,311,096 in the last three months. Company insiders own 0.43% of the company’s stock.

About Diamondback Energy

Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. It focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.